MNC Digital Entertainment, Owned By Conglomerate Hary Tanoesoedibjo, Does Not Want To Talk Further About Stock Split

Photo: Doc. MNC Group

JAKARTA - The management of PT MNC Digital Entertainment Tbk (MSIN) has not yet decided on the plan for a stock split. This is because there are still requirements that have not been met by the company owned by the conglomerate Hary Tanoesoedibjo.

Director of MNC Digital Entertainment Ella Kartika said that the Extraordinary General Meeting of Shareholders (EGMS) which was held on Monday had not yet decided on the stock split plan.

"No decision has been made in the EGMS this time because an audit is still required, which is a requirement from the Indonesia Stock Exchange (IDX)," said Ella in a public expose in Jakarta, Tuesday, July 19.

Even so, she said that the proposed stock split plan would be re-proposed at the next EGMS. According to the plan, MSIN will stock split with a ratio of one to twenty (1:20).

In other words, each MSIN share with a nominal value of IDR 50 will be split into twenty shares with a nominal value of IDR 2.50.

The MSIN stock split plan aims to increase stock liquidity, support capital market growth, and reduce investor barriers to entry into MSIN.

MESIN Investor Relations Luthan Fadel added that the next EGMS is expected to take place this year around September and October.

Ella added that MSIN's EGMS approved the rearrangement of MSIN's Articles of Association, regarding changes to Article 3 of the Company's Articles of Association.

"The agenda regarding changes to Article 3 of the Company's Articles of Association to be adjusted to the provisions in Government Regulation (PP) No. 5 of 2021 concerning the Implementation of Risk-Based Business Licensing was approved," she said.